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St-Georges $SX $SX.ca $SXOOF Provides Update on #Lithium Processing Technology Initiative & Iceland #Gold Exploration

Posted by AGORACOM-JC at 2:44 PM on Friday, April 24th, 2020
  • Secured vendors and accepted proposals from third-party laboratories to further its lithium metallurgical processing technology’s advanced bench testing and its pilot plant
  • Up to recently, the Company had strategically divided the research workload between various laboratories to protect the intellectual property being developed
  • These segmented R&D silos will now come together and be integrated within the pilot plant operations

Montreal – April 24, 2020 St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE: 85G1) is pleased to announce that it has secured vendors and accepted proposals from third-party laboratories to further its lithium metallurgical processing technology’s advanced bench testing and its pilot plant.

Up to recently, the Company had strategically divided the research workload between various laboratories to protect the intellectual property being developed. These segmented R&D silos will now come together and be integrated within the pilot plant operations.

As previously announced on February 10, 2020, in the “Winter Update” press release, the Company expected to secure an agreement within the second quarter of 2020. The use of ready-made facilities will generate significant cost reductions and represent a faster alternative than the building of a pilot plant from scratch. St-Georges’ management evaluated different proposals from various potential providers that were intended to meet the Company’s requirements.

The main contractor retained tipped the balance in its favor with a wealth of experience and state-of-the-art, ready-made facilities that only required certain adjustments specific to the St-Georges process. The team expects an adjustment period, and plant trial runs during Q2 and Q3 2020, subject to Quebec COVID-19 confinement releases. Full pilot scale testing should be initiated in or around the beginning of this year Q4.

The Company is expecting to receive materials from Iconic Minerals Ltd. (TSX-V: ICM) in accordance with the next phase of the on-going research and development program in place with the Company. Discussions are being held with various mines operators and mineral developers. Producers of spodumene concentrate have shown interest in supplying material for testing.

Quebec Lithium Resources

St-Georges also sourced material from a Quebec-based lithium project. The Company’s contractors will be preparing 10 to 15 tonnes of material that should yield results of approximately three metric tonnes of industry-grade spodumene concentrate suitable for pilot testing with the St-Georges’ process. The material should be available to the metallurgical team in the weeks following the Quebec government’s lifting of the COVID-19 lock-down. Sourcing local Quebec material qualifies the Company to apply for certain governmental grants, and the Company expects to apply for these grants in 2020.

Enrico Di Cesare, President of St-Georges Metallurgy Corp., commented: “Our partners’ facilities seem built for St-Georges. Under the circumstances, it would be non-sensical to spend time and money to replicate the facilities that they own. These groups have significant experience with concentrating, acids and solutions we will be using. In addition, it de-risks St-Georges by allowing us to focus on development work that is on-going. St-Georges looks forward to working with all our partners at CTMP (Centre de Technologie Minerale et de Plasturgie inc.), which has performed the early development work and will continue to work with the St-Georges team. We feel we will be able to accelerate the development and eventual market acceptance of the products we intend to produce. We believe this combination of laboratory work at bench scale and eventual large-scale pilot plant operations will accelerate our development work. We feel blessed to have two quality partners to move forward with, and we continue our collaborations with universities that specialize in this field of work.

St-Georges Metallurgy Corp.

On February 27, 2020, St-Georges incorporated a new subsidiary, St-Georges Metallurgy Corp., and appointed Enrico Di Cesare as its President and CEO. This entity is owned 100% by St-Georges and will handle all metallurgical R&D, laboratory partnerships, metallurgical joint ventures, and related intellectual property.

In April, the Company has secured the services of a veteran metallurgist, Mr. Ian J. Cox, to work on the projects with a focus on both lithium and nickel

Ian has a degree in fuel and combustion science, from Leeds University, UK. With post-grad courses in project management from the University of Tennessee, leadership from Harvard, and finance from the Massachusetts Institute of Technology (MIT), he is an experienced project manager/process engineer with extensive experience in new process development and transition from development to design and operation. Ian has built a profitable business in highly competitive international markets. He builds strong multi-function teams with international joint venture/partnering experience.

Iceland Exploration Update

The previously announced work programs in Iceland (See September 3 2019 Press Release), were not finished due to extreme weather conditions. With the arrival of spring and the Icelandic government allowing people to circulate for work as the COVID-19 confinement directives are being eased, the Company expects to be able to finish its Thor sampling program and send those samples to Canada for processing in May, with Vopna and Troll to follow in June-July. No resolution has yet materialized in regard to drilling the Thor property. Management expects to be able to drill this summer, but no certainty can be given in that regard.

Covid-19 Impacts Assessment

The Covid-19 pandemic impacts all of the Company’s Quebec operations. Quebec North-Shore exploration operations are halted until further notice from the government. The Company is using this period to prepare its intervention plan to meet with the First Nations on whose ancestral territory the projects lie. The current process requires 60 to 90 days to receive the relevant permits. It is currently impossible to know when this process will be initiated.

ON BEHALF OF THE BOARD OF DIRECTORS

“Vilhjalmur Thor Vilhjalmsson”

Vilhjalmur Thor Vilhjalmsson

President and CEO

About St-Georges

St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry.

The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

St-Georges Eco-Mining Corp. $SX $SX.ca $SXOOF Provides Winter Corporate Update

Posted by AGORACOM-JC at 3:41 PM on Monday, February 10th, 2020

Highlights

  • Lithium Processing: technology initiatives, patent formalization, battery recycling process and lithium metal manufacturing;
  • Pilot plant potentially de-risked through discussions with ready-built facilities;

Montreal, Montreal -  February 10, 2020 – St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) would like to update its shareholders on its on-going corporate developments.

In the past six months, St-Georges has successfully executed its strategy to strengthen and expand its focus on its green extraction metallurgical processes development and re-center its exploration efforts on energy metals in Quebec and Iceland. The team has also added a Palladium-Rhodium project in Quebec and has advanced its Thor Gold Project in Iceland to drill-ready status. Significant changes in the Company operations, namely the sale of King of the North in September and the spin-off of ZeU Crypto Networks Inc. in December, has allowed the Company to free up resources that can now be allocated to the core competencies of the Company.

Highlights

– Lithium Processing: technology initiatives, patent formalization, battery recycling process and lithium metal manufacturing;

– Pilot plant potentially de-risked through discussions with ready-built facilities;

– Julie Nickel developments;

– Iceland Resources EHF/St-Georges Iceland ltd update;

– Borealis Derivative Exchange EHF status update;

– Hydro-Dam Project in Iceland advancing on its environmental permits;

– Status of Other Holdings.

Mineral Processing Research & Development

Lithium Processing Technology

Stage I of the development of the Company’s lithium processing technology, in collaboration with Iconic Minerals (TSX-V: ICM), was completed in the first half of 2019 (See July 24, 2019 Press Release). Following the delivery of the Stage I independent report to ICM, St-Georges has accelerated the work and obtained results on many tasks that are part of Stage II and Stage III of the planned development.

On-going testing has confirmed, so far, the portability of the process developed for sediments to hard rock sources of lithium. 

The Company is looking at opportunities to apply its technologies to other advanced mining projects, in particular, ones that currently produce spodumene concentrate, but have not yet decided to build an expensive tech plant for refining. Potential adopters of the technology have been identified, and discussions initiated. In addition, the Company is looking at the potential to retrofit existing facilities. Management will update the public on the status of these discussions when materiality requires it.

St-Georges filed the final documentation with the US Patent Office allowing its patent application to move from its provisional status to the formal patent application stage. The Company also filed a PCT application for the same patent potentially giving it protection in an additional 152 countries. The final version of the patent application now allows for the recovery of lithium from recycled batteries. St-Georges intends to position itself as an ideal partner to provide strategic materials to the battery industry, which includes recycling and recovery of the new generation of batteries, including solid-state batteries. Additionally, this patent application covers recycling as well as lithium metal and alloys manufacturing.

Pilot Plant(s)

St-Georges’ management and the metallurgical team have worked on the design, the sourcing of equipment, and the financial aspects of its proposed pilot plant for the better part of the last six months. In an effort to lower the risk of the proposal, the team has initiated discussions with ready-built facilities with extra capacity. This could allow St-Georges to build its pilot plant’s processing circuit faster with only minor modifications to the ready-built facilities. Early estimates confirm that capital expenditure should only be a fraction of the original budgeted cost as the Company will be leasing the facilities long-term. The Company expects to have secured an agreement for the pilot plant facilities in Q2 2020. 

Mineral Exploration

Julie Nickel Project

Following last year’s fieldwork, the Company’s geological team and exploration sub-contractors are planning additional drilling on the Julie Nickel property. The exploration plan for the coming years will be presented to the local stakeholders and First Nations in Q1, and the updated permitting request should be filed by Q2 for work in early summer. Additional bulk sampling should be performed to advance a nickel-iron initiative by the Company’s metallurgical team.

Preliminary discussions are on-going with a ferronickel consortium planning a project in Quebec.

Manicouagan Palladium-Rhodium Project

Much like the Julie Project, the Manicouagan Project has nickel and copper that meets the conventional concentrates requirements based on the type of sulphates it contains. Additionally, the recrystallized nature of this region lends itself to higher recoveries of each crystal form and better conversion.

The presence of well-known high-grade Palladium-Rhodium-Ruthenium surface showings (See January 27, 2020, Press Release), regardless of size, allows St-Georges to significantly reduce its costs to acquire PGE concentrate material for metallurgical bench testing of its processing and refining metallurgical process for Palladium-Rhodium-Ruthenium. 

St-Georges exploration team is planning a pre-drilling surface campaign to obtain permitting to intervene on-site in mid-summer. At the same time, St-Georges’ management is having early-stage discussions with potential farm-in or earn-in partners to advance the project at a faster pace.

Borealis EHF

The hybrid decentralized and distributed ledger-driven derivative trading platform is coming together at a good pace. Regulatory discussions are now in control of the timeline for the delivery of the platform.

Islensk Vatnsorka Hf – Iceland Hydro-Electric Dam Project

Islensk informed the Company that the permitting process is moving within the expected timeline and according to expectations. The Company still believes that the project will be fully permitted by the end of 2020. 

Iceland Resources EHF/St-Georges Iceland ltd

On August 21, 2019, the Icelandic authorities approved St-Georges’ previously disclosed work program for the coming year (See March 2, 2019 Press Release). The core projects have seen a fair share of exploration work, while some secondary projects have been repeatedly delayed due to extreme weather conditions in northern and eastern Iceland.

Work on the Thor Gold Project has brought it to drill-ready status. Surface rights and environmental conditions are no longer problematic, and the Company has requested a legal opinion to confirm that it can drill on the sole basis of its central government license.

The Company did, however, take samples at Thor during the winter season that are currently being analyzed. The Company is now preparing a bulk sample program at Thor. The material will be sent to be processed in Canada as soon as the weather allows it sometime in Q2.

The Company is currently in discussions to acquire the balance of the surface rights that escape its ownership on the project and is looking to acquire the last portion equity own by a third party in the Thor Gold Project.

Status of other holdings

The Company currently holds the following assets as of January 31, 2020.

Vilhjalmur Thor Vilhjalmsson, President and CEO of St-Georges, commented: “(…) the last six months have been for the Company both challenging but exciting. With the successful listing of ZeU Crypto Networks Inc., the sale of KOTN, funding above market prices, and now faster-than-expected progress in regards to the pilot plant, the team has shown its capabilities to deliver.”

___________________________________________________________________________

ON BEHALF OF THE BOARD OF DIRECTORS

“Vilhjalmur T. Vilhjalmsson”

VILHJALMUR THOR VILHJALMSSON, PRESIDENT & CEO

About St-Georges 

St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry. The Company controls directly or indirectly, through rights of first refusal, all the active mineral tenures in Iceland. It also explores for nickel-copper-cobalt and Palladium-Palladium-Rhodium-Ruthenium on the Julie Nickel Project & the Manicouagan Palladium-Rhodium Project on the Quebec’s North Shore. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

#ZeU – Legacy Databases Applications Can Now Be #Blockchain Enabled $SX $SX.ca $SXOOF

Posted by AGORACOM-JC at 4:31 PM on Thursday, December 5th, 2019
  • ZeU Crypto Networks Inc., has filed a new provisional patent entitled “Method and System for Converting Database Applications into Blockchain Applications.
  • The new IP provides a convenient method for combining traditional applications with blockchain technology.

Montreal – December 5, 2019 St-Georges Eco-Mining Corp. (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to announce that its subsidiary, ZeU Crypto Networks Inc., has filed a new provisional patent entitled “Method and System for Converting Database Applications into Blockchain Applications.” The new IP provides a convenient method for combining traditional applications with blockchain technology.

This method does not require any modifications to existing applications. On the database layer, we directly ensure data in the database maintains synchronization with the data in the blockchain. Traditional enterprise applications are database-based applications, and all business services are built upon relational or non-relational databases. A common problem in the process of migrating from enterprise applications to blockchain applications is that the overall structure of blockchain is very different from traditional enterprise applications. Enterprise applications must be significantly modified or even rewritten to fit the structure of blockchain’s logic.

This patent provides a method and system for converting database-based applications into blockchain-based applications; multiple applications on different nodes can automatically perform global data consensus to prevent data conflicts. The basic method is to monitor the database written by applications, extract data operations from transaction logs, convert the data operations to a general format, and activate the smart contract on the blockchain to complete the data consensus check at multiple nodes. Each node monitors the blocks on blockchain and synchronizes the data back to the database. In the case of conflicting or illegal data, the data is not able to pass consensus and synchronize with the other nodes in the blockchain. The local nodes automatically roll back when detecting invalid data.

Example 1: Electrical Certificate

In this case, when a record is generated locally, and it needs to be retrieved later for confirmation, such as legal documents, bank orders, etc. Traditionally a centralized database has been used to store the data and validate the conflicts. With the method in this patent, traditional database-based apps could be easily converted to a blockchain-based decentralized system and expanded to multiple organizations.

In a traditional environment, all apps must be based on the same database to store and verify the data. With the method in this patent, there is no need to modify the app code, insert the BC-DB adapter layer between the database and the blockchain in each node, and then select the fields in the database to automatically synchronize to all other databases through the blockchain. If there is a data conflict, the adapter resolves it. All the changes from DB1 and DB3 are synchronized to DB2, and APP 2 could query all confirmed data.

Example 2: Supply Chain

For supply chain scenarios, there may be different participants, like part suppliers, manufacturers, logistic companies, retailers, banks, etc. Product info data needs to be shared between different organizations. Suppliers write records for parts supplied to the manufacturer. Manufacturers write product information and which parts were used for which product. Logistic companies write details regarding product transportation. Retailers write product sales information. The bank needs all the aforementioned information to issue loans.

By adding an adapter beside each database, the databases on different nodes could be synchronized and achieve impressive results. The supply company knows the inventory of the manufacturer. It thus could prepare parts in advance, thereby shortening the lead-time. The logistic company could get the product data even if it is still at the manufacturer, and can arrange vehicles in advance. The manufacturer receives the retail data to help plan the manufacturing cycle to better suit market needs. The bank could receive all the data from the different nodes to detect potential fraud and issue loans to participants.

St-Georges Eco-Mining Other Corporate Matters

Amended listing statement for ZeU

St-Georges subsidiary, ZeU Crypto Networks Inc, has filed today an amended listing statement with the Canadian Securities Exchange that takes into account the recent changes in short-term debt ratios that were previously holding the process. Management will keep its shareholders informed on the progress when material information becomes available.

Missing & Incorrect Information from Latest Press Release

St-Georges would like to correct a mistake include in the December 1, 2019 Press Release “Closing of First Tranche of Financing.” Some versions of the press release were disseminated with the wrong amount being raised. The total amount raised is $500,100, while the erroneous release mentioned $501,100. Additionally, one insider subscribing in the private placement was omitted from the list. Enrico Di Cesare, a director and insider of the company, subscribed to 300,000 units of the placement for a total of $30,000.

ON BEHALF OF THE BOARD OF DIRECTORS

“Frank Dumas”

FRANK DUMAS

DIRECTOR & COO, ST-GEORGES ECO-MINING

PRESIDENT & CEO, ZEU CRYPTO NETWORKS.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

Copyright (c) 2019 TheNewswire – All rights reserved.

ZeU Close $7.8 million in Financing of Convertible Debentures & Announce a Joint-Venture with Kamari $SX $SX.ca $SXOOF

Posted by AGORACOM-JC at 11:48 AM on Wednesday, November 13th, 2019
  • Announced the closing by its subsidiary, ZeU Crypto Networks Inc., of a non-brokered private placement offering of 12% capitalized interests unsecured convertible debentures for an aggregate principal amount of CAD $7,824,000
  • Subscribed in consideration of digital assets, consisting 24,000,000 Kamari, each a “KAM“, at a deemed value of CAD $0.326 each.

Valletta, Malta – November 13, 2019 St-Georges Eco-Mining Corp. (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to announce the closing by its subsidiary, ZeU Crypto Networks Inc., of a non-brokered private placement offering of 12% capitalized interests unsecured convertible debentures for an aggregate principal amount of CAD $7,824,000 subscribed in consideration of digital assets, consisting 24,000,000 Kamari, each a “KAM“, at a deemed value of CAD $0.326 each.

ZeU has also executed a joint venture agreement with Kamari Limited (“Kamari“) of Malta for the joint development and deployment of lotteries and gaming offerings in Africa (the “JV Co.“). Under the terms of the JV, both parties agreed to invest up to Euro 50,000, ZeU agreed, among other things, to grant JV Co. a non-exclusive licence to its technologies in exchange for a 30% interest in JV Co., and Kamari agreed to provide JV Co. with support in accessing online lottery markets exchange for a 70% interest in JV Co. For more information on Kamari visit www.kamari.io

The Debenture issued pursuant to the Offering will have a maturity date of May 12, 2022 (the “Maturity Date“), and be convertible into common shares of ZeU (each a “ZeU Share“) at a price (the “Conversion Price“) equal to the greater of: (i) $1.50, and (ii) if the date of any conversion occurs after ZeU completed a transaction (a “Liquidity Event“) pursuant to which it will become a “reporting issuer” under applicable Canadian securities laws and the ZeU Shares would be listed and posted for trading on a recognized exchange, the 10-day volume-weighted average trading price of the ZeU Shares, immediately prior to the applicable conversion date.

Upon the occurrence of a Liquidity Event, ZeU will be entitled to require the holders of the Convertible Debentures to convert up to 50% of the principal amount outstanding, together with any accrued and unpaid interest owing thereon, into ZeU Shares at the Conversion Price.

ZeU will be entitled to redeem the Debentures at any time, including on the Maturity Date, in cash, in digital assets for the pro rata nominal amount of digital assets subscribed or in ZeU shares at the Conversion Price.

The KAM forming the Consideration are subject to the following voluntary transfer restrictions: (i) in any one-month period, transfer, directly or indirectly, is limited to 1/30th of the total number of KAM forming the Consideration; and (ii) in any given day, any sale on an exchange is limited to 5% of the total volume of KAM traded, without the prior written consent of Kamari.

The securities issued in connection with the Offering are subject to the applicable statutory hold period ending March 12, 2020. Closing of the Offering is subject to receipt of applicable regulatory approvals, including the approval of the CSE.

ON BEHALF OF THE BOARD OF DIRECTORS

“Frank Dumas”

FRANK DUMAS

DIRECTOR & COO, ST-GEORGES ECO-MINING

PRESIDENT & CEO, ZEU CRYPTO NETWORKS.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

St-Georges $SX $SX.ca $SXOOF acquires 23.75% stake in BWA Group plc $NNX.ca $OM.ca $ICM.ca

Posted by AGORACOM-JC at 12:07 PM on Thursday, October 31st, 2019
  • Company has notified BWA Group plc (London, England) (NEX:BWAP) of its intention to convert GBP300,000 ($511,000) of Convertible Loan notes “CLN” into 60,000,000 ordinary shares in BWA Group plc.
  • Shares will be admitted to trading on the NEX Exchange Growth Market in London, effective November 6, 2019

Montreal – October 31, 2019 –St-Georges Eco-Mining Corp. (CSE:SX) (OTC:SXOOF) (FSE: 85G1) is pleased to inform its shareholders that the Company has notified BWA Group plc (London, England) (NEX:BWAP) of its intention to convert GBP300,000 ($511,000) of Convertible Loan notes “CLN” into 60,000,000 ordinary shares in BWA Group plc.

The Company has been notified by BWA Group plc that the shares will be admitted to trading on the NEX Exchange Growth Market in London, effective November 6, 2019. Following the allotment of these ordinary shares, St-Georges will hold 60,000,000 ordinary shares of BWA Group plc, representing 23.75% of this corporation’s enlarged issued share capital.

The Company received GBP2,451,409 ($4,183,000) of convertible loan notes on September 30, 2019 in relation to sale of its subsidiary Kings of the North to BWA Group plc. After the conversion, St-Georges has GBP2,151,409 worth of loan notes outstanding at an approximate value of $3,671,427.

ON BEHALF OF THE BOARD OF DIRECTORS

“Mark Billings”

MARK BILLINGS

Chairman

About St-Georges

St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry. The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

St-Georges Eco-Mining $SX.ca $SXOOF – Kings of the North Subsidiary Sold to UK’s BWA Group PLC.

Posted by AGORACOM-JC at 5:34 PM on Monday, September 30th, 2019
  • Company has completed the sale of its subsidiary Kings Of The North Corp to BWA Group Plc of London, United Kingdom (NEX:BWAP)
  • The total transaction is evaluated at approximately CAD 7.5M. St-Georges holds 50.18% of Kings of the North.

Montreal – September 30, 2019, St-Georges Eco-Mining Corp. (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to inform its shareholders that the Company has completed the sale of its subsidiary Kings Of The North Corp to BWA Group Plc of London, United Kingdom (NEX:BWAP). The total transaction is evaluated at approximately CAD 7.5M. St-Georges holds 50.18% of Kings of the North.

BWA’s shareholders voted to approve the acquisition of KOTN earlier today with over 99.1% of vote cast in favour. Management of St-Georges, Kings of the North, and BWA Group spent the remainder of the days finalizing the regulatory documentation.

Vilhjalmur Thor Vilhjalmsson, President and CEO of St-Georges, commented, “(…) This is another important milestone achieved, and our management looks forward to working with BWA Group to unlock the potential value of these projects. St-Georges’ restructuring is starting to take shape and we look forward to the next steps on the path of this journey (…).”

ON BEHALF OF THE BOARD OF DIRECTORS

“Vilhjalmur T. Vilhjalmsson”

VILHJALMUR THOR VILHJALMSSON

President & CEO

About St-Georges

St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry. The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

St-Georges Eco-Mining $SX $SX.ca $SXOOF Provides Corporate Update

Posted by AGORACOM-JC at 9:12 AM on Tuesday, September 3rd, 2019
  • Advancing lithium technology initiatives;
  • Pilot plant design and preparation on-going;
  • Iceland Resources fieldwork commencing;
  • Julie nickel work program;Kings of the North – completion of the sale and purchase transaction anticipated by the end of September 2019;
  • ZeU Crypto Networks listing imminent and product developments at final stages;
  • Borealis Commodity Exchange, interviews potential board and management candidates;
  • white paper expected within Q4;
  • Hydro-Dam Project in Iceland advancing on its environmental permits.

Montreal, QC September 3, 2019 – St-Georges Eco-Mining Corp. (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) would like to update its shareholders on its on-going corporate developments.

During the last 12 months the management and directors of the company have streamlined the structure of the Company and its projects. The core competences and focus of the Company are lithium metallurgical technology, gold exploration in Iceland, and the Julie nickel project.

Mineral Processing and Exploration Initiatives

Lithium Technology

Following the successful completion of the Stage 1 agreement with our client Iconic Minerals (TSX.V:ICM) and as announced on July 24, 2019, the Company continues to advance the work to complete Stages 2 and 3 of the agreement.

The company continues to work towards developing its technology with solids (clay and hard rock). Applying the leaching and purification strategy from clay to hard rock resources is on-going.

The Company is looking at opportunities to apply its technologies to mining projects that are advanced. Discussions have been initiated. There is no certainty that these discussions will lead to definitive agreements.

Pilot Plant

The Company’s metallurgical team has finished the conceptual design of the lithium pilot plant and is now advancing into detailed technical design with equipment vendors, as well as finding an appropriate site on which to build the plant. The Company expects that the construction of the plant could commence within this quarter or early Q1 2020 depending on site location that is currently under review and necessary permits approvals from local authorities.

Iceland Resources

The previously announced work program on March 2 of this year was approved by the Icelandic authorities on August 21. The Company is engaging its team to start work in Iceland as soon as work in eastern Quebec has been completed. It is expected that fieldwork will commence in mid-September and will be on-going throughout the year. The areas of focus will be Trollaskagi (Troll), Vopnafjor?ur (Vopna), and Thormodsdalur (Thor).

The Company has not yet received approval to drill Thor and may need to revise its approach in terms of getting drilling approval. The Company is of the view that the municipality cannot prevent the Company from drilling activities on-site. Management is evaluating its options and expects drilling to commence before year-end.

Julie Nickel

Following last year’s fieldwork, the Company’s geological team and exploration sub-contractors will do further drilling on the Julie nickel property. An effort will be made to get a bulk sample to advance a nickel-iron initiative within the Company’s metallurgical team.

Nickel and copper concentrating efforts will be initiated shortly with potential research grants. In addition, the Company is looking at ways to capture the full value chain of the resource including recovering the iron. Preliminary discussions have been initiated to work on a ferro nickel development with a consortium planning a project in Quebec.

Investments and Development Companies

Kings of the North – BWA

St-Georges’ geological team together with its exploration contractors has been doing fieldwork on the Nova Gold project in eastern Quebec and is expected to return from the site the first week of September.

The Company has also taken samples from the Isoukustouc property and awaits the sample results.

Per the announcements regarding the sale of the Company’s subsidiary Kings of the North to BWA Group plc on May 30 and August 5, 2019, the Company is waiting for the completion of the proposed transaction which is expected to take place on or before September 30.

Following the acquisition, the project’s expenditure and work programs will be the responsibility of BWA Group plc.

ZeU Crypto Networks

The review of the updated filing statement provided by management to the Canadian Securities Exchange in early June has been completed. The final requirements requested by the Exchange are being finalized by the management.

The Company has signed a joint venture agreement with St James House PLC and has mandated its Maltese legal advisors to move forward with both the joint venture corporate structure and the lottery and gaming licenses

The Company’s developments in September include:

  • – A working demo of the SaaS platform base module will be rolled out. – Live testing of MulaMail with a select group of people is scheduled to begin. – Development of the Social Networking App is expected to start.

In light of recent technological developments, the company has received interest from third parties to collaborate in the development of aerospace applications.

Borealis ehf

Borealis ehf is a hybrid blockchain ledger-driven platform. Borealis will harness ZeU Crypto Networks technology and aims to limit transaction costs while keeping control of smart contract token issuance and utility tokens in a distributed platform. It will be regulated by the Icelandic and Maltese governments.

The Company has been interviewing potential board members with the relevant experience and contacts in preparation for the operations ramp-up scheduled for early 2020. The software has undergone beta testing within the technical team for the last few months, and the project’s white paper is expected to be issued in Q4, 2019.

Hydro-Electric Dam Project

The Company has been informed that the environmental impact assessment and permitting process is advancing positively. Islensk Vatnsorka expects a positive outcome in the latter part of 2020 for its permit to start construction. The Company has engaged in discussions with specialized funds that have expressed interest in purchasing the Company’s stake in Islensk Vatnsorka.

Vilhjalmur Thor Vilhjalmsson President and CEO of St-Georges, commented, “(…) Over the past year the management team has re-shaped the Company, brought into the team world-class professionals on both sides of the Atlantic, led the development of new technologies, and enabled separate listing of its subsidiaries which we expect will occur within the next few weeks. This should enable our investors to have a better view of the different avenues of value creation within SX”.

ON BEHALF OF THE BOARD OF DIRECTORS

“Vilhjalmur T. Vilhjalmsson”

VILHJALMUR THOR VILHJALMSSON

President & CEO

About St-Georges

St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry. The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

#ZeU files New Provisional Patent for New Internet Communication Protocol & Introduces the Infrastructure Layer for the Internet of Ledgers $SX $SX.ca $SXOOF

Posted by AGORACOM-JC at 7:03 PM on Sunday, August 18th, 2019
  • Filed this week with the US Patent Office a provisional patent application for a New Internet Communication Protocol
  • The protocol will enable a smoother transition of legacy systems into the distributed digital economy, or Web 3.0.

Montreal – August 18, 2019 St-Georges Eco-Mining Corp. (CSE:SX) (OTC:SXOOF) (FSE:85G1) is pleased to inform the public that its subsidiary, ZeU Crypto Networks Inc., has filed this week with the US Patent Office a provisional patent application for a New Internet Communication Protocol. The protocol will enable a smoother transition of legacy systems into the distributed digital economy, or Web 3.0.

ZeU’s Internet of Ledgers starts with a communication protocol enabling infinite, distributed, and trustless network connections on data, executable code, digital assets, and the next big thing yet to be invented.

The US Provisional Patent: “A Method and System for a Transactional Decentralized Communication Protocol Infrastructure; (Using ZeU Cross-Chain Multi-Chain Atomic Swap)”

This patent describes a method to create a highly-scalable, smart contract-less communication protocol, much like TCP/IP, using distributed consensus, an atomic transaction framework, Unspent Transaction Output (UTXO), and a Byzantine Fault Tolerance standard. This protocol leverages the cross-chain, multi-chain particularities of ZeU’s Atomic Swap.

Decentralized Transactional Communication Protocol (DTCP)

The Decentralized Transactional Communication Protocol (DTCP) is a grassroots alternative to tackle DLT-based industry problems such as interoperability and scalability. It enables any number of participants to communicate in a transactional way. They can exchange data (even executable code or direct streaming bytes packets) or digital assets or both. It can create communication channels in a continuous or one-time manner. The protocol does not use blockchain or a token and is ledger-agnostic, as it uses a user protocol-centric approach to decentralized escrows. It is decentralized utilizing a network of nodes, which mine the transaction in a specific way.

The protocol leverages participants’ virtual machines (VM) to create a scalable alternative to Lightning Networks or state channels.

The protocol uses a mix of distributed VMs and derives asymmetric encryption (BIP32), multisig digital wallets, and a transactional flow. To settle on mutually agreed terms, participants synchronize and accept the mutual terms of communications, much like TCP/IP and SSL handshakes, to establish commitments. The protocol is built for all participants and nodes to verify the authenticity and the validity of any transactional request. It uses a decentralized escrow system to disable double-spends and other such attacks.

The protocol is Byzantine fault-tolerant and follows a UTXO approach using the concept of commitment rollbacks. These rollback commitments are established at the same time as the request commitments on a hard fail or a timeout-based on the length, i.e. number of Participants, in the transaction chain.

The protocol can enable use cases such as:

– High Volume/Speed Trading;

– Micropayments;

– DApp ledger interoperability;

– Streaming;

– Exchange of distributed executable logic, similar to smart contracts.

Frank Dumas, CEO of ZeU Crypto Networks, commented: “(…) DTCP is built for Web 3.0. It’s a grassroots way to redefine asynchronous distributed communication in a decentralized way which removes the need for trust between third parties. It will enable interoperability, scalability, and a token-less economic model in the world of digital assets as data, cryptocurrency, and distributed executable code, such as smart contracts, using methods similar to the emergence of internet protocols (…) as a communication protocol, DTCP is ledger-agnostic and enables any number of participants in any transaction. As the web transit to the digital economy, this protocol allows any participant to create their own mini internet with other participants (…) this newest addition to ZeU’s IP portfolio should grow our pool of commercial opportunities exponentially. To accelerate its universal adoption, a dedicated team will be working around the clock to publish a comprehensive proof of concept to use by third-party developers before year-end. (…)

Use Cases of the DTCP Protocol

Use Case 1: High volume micropayments for streaming involving Alice, Bob, and Chris

Alice has an online paid streaming engine (AliceApp) and distributes content to her users in exchange for crypto micro-payment. Bob and Chris are consumers of Alice’s service. Bob pays in ETH and Chris in BTC. Bob and Chris put an amount of asset (1 ETH, 0.1 BTC) into their AliceApp account by enabling it to be held in escrow. Note that Alice does NOT have the funds yet, but she can prove the funds exists and are available.

Bob and Chris create a streaming request, i.e., a transaction request, by clicking on the video to start.

AliceApp will start trading streaming packets in exchange for Bob and Chris’ pseudo-transaction signed receipt, perhaps 0.00001 ETH or 0.000001 BTC per megabytes. The payments are settled only when one of the two conditions are met.

– Agreed schedule, e.g., AliceApp as a 24h settlement cycle;

– The total committed amount of any participant is met, e.g., Chris has reached 0.1 BTC.

Use Case 2: DApp interoperable remittance system with David, Esther, and Kate

DavidApp is a gambling DApp enabling participants to bet on live sporting matches built on EOS. EstherApp is a remittance micro-payment system built on BCH. Kate is a DavidApp user. David is using EstherApp to reward the winner using the user’s chosen asset.

Kate is playing DavidApp by sending her bet from her mobile device while she is enjoying the match. Every time she places a bet, she sends the related data and an asset, e.g., 0.00001 ETH, which she has requested to be rewarded with BCH. Multiple times within the established time frame, e.g., the length of the match, Kate wins, and DavidApp responds with a winning event in which he rewards Kate with 0.01 BCH.

Kate receives her BCH, if applicable, from EstherApp at the end of the match, the agreed cycle. She was able to bet hundreds of times, sometimes winning, sometimes losing. David also has access to the ETH at the end of the match. EstherApp exchanges a sum of ETH for the required BCH and the EOS to pay for the platform bandwidth.

EstherApp may use a multilateral atomic swap with its affiliated partner to ensure liquidity in any requested digital asset.

Use Case 3: Decentralized Liquidity Pool with George, Hannah, Iris, Jared & Kalvin

All Liquidity Pool Participants desire easy access to each other’s available assets to create liquidity for their application, e.g., EstherApp in Use Case 2.

– George has BTC

– Hannah has BCH

– Iris has LTC

– Jared has XRP

– Kalvin has ETH

All participants commit funds to the pool. Note that none of the other participants have access to any of the funds but can have their funds returned.

The participants can exchange pseudo-transactions, either micro or macro, which will only settle once the agreed-upon cycle is met or any participant has reached their committed funds.

Note that the participants can use a transaction bridge to automate the repopulation/refund of their escrow accounts using distributed code logic and trusted signals, i.e., oracles, e.g. a DApp signal based on asset fluctuation price.

ON BEHALF OF THE BOARD OF DIRECTORS

“Frank Dumas”

FRANK DUMAS

DIRECTOR & COO, ST-GEORGES ECO-MINING

PRESIDENT & CEO, ZEU CRYPTO NETWORKS

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

#ZeU Files Provisional Patent for Cross-Chain Atomic Swaps & Contract-less DApps Interoperability $SX $SX.ca $SXOOF

Posted by AGORACOM-JC at 2:40 PM on Thursday, August 8th, 2019
  • ZeU Crypto Networks Inc., has filed this week with the US Patent Office a provisional patent application for its Cross-Chain Atomic Swaps & Contract-less Distributed Ledger Applications Interoperability, the augmented engine and structure of ZeU’s Internet of Blockchain.
  • The engine is agnostic to any and all blockchain protocols currently on the market or expected in the future.

Montreal, August 8, 2019 – St-Georges Eco-Mining Corp. (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to inform the public that its subsidiary, ZeU Crypto Networks Inc., has filed this week with the US Patent Office a provisional patent application for its Cross-Chain Atomic Swaps & Contract-less Distributed Ledger Applications Interoperability, the augmented engine and structure of ZeU’s Internet of Blockchain. The engine is agnostic to any and all blockchain protocols currently on the market or expected in the future.

The Provisional Patent: “A method and system to complete cross-chain transactions”

This patent describes a blockchain-based transaction middleware, which enables global transactions to be performed on two or more blockchains. On the one hand, all transactions are intermediately processed, and the results are stored in the cooperator chain. On the other hand, the decentralized transaction middleware ensures that all operations within the relevant transactions are atomic. [Atomic in this context means that all operations in a transaction, either completed or not completed, cannot end in the middle of a link.]

Moreover, the system can perform a blockchain transaction with a traditional off-chain transaction, such as a database operation or message queue transaction. With this method, the blockchain has the transaction characteristics of the traditional information system plus the attributes of strong consistency and resistance to attacks. This patent also innovatively proposes to set up three trigger conditions for a smart contract, so that the smart contract can not only record the current operation but also can ensure the consistency of cooperation amongst contracts running on different chains. It can make sure all contracts achieve the same final status: all succeed or all fail.

Virtualization of inter-protocol distributed logic will further push the boundaries, as this will enable lightning-fast inter-ledger settlement while ensuring scalability and the ability not to add latency to the underlying networks. Acting as an off-chain middleware, it creates communication channels between 2 or more participating ledgers. The system is made in a way where each participating smart contract or ledger-based application must achieve the same results, which ensure it remains trustless.

Furthermore, the 0-chain engine being essentially a secured asymmetric encryption communication infrastructure between ledgers, will replace the need for ledger-based oracles and will enable DApps (decentralized applications) to be linked together in an unprecedented way removing the need for smart contract logic in most cases. If not, it will enable interoperability between smart contracts and n-amount of blockchain protocols.


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Case Studies

Case Study 1:

Karen’s DApp is fetching important verification data from an Ethereum-based smart contract. She is using complex connectors to be able to reward her user in BSV (Bitcoin Satoshi Vision) and BTC (Bitcoin) when they accomplish specific, verified tasks. Furthermore, she needs complex logic to base her reward on the average BTC last block number and BSV volume.

Bob’s DApp is already tracking BSV volume with his in-house code logic, and Chris’ DApp is monitoring BTC ledger using a block explorer.

Without the need for unsecured push notifications, Karen, Bob, and Chris can now install a three-way communication channel between their DApps, which will send messages and trigger the three corresponding ledger events automatically. It can be demonstrated that none of them can tamper with the data as the communication (transaction) would fail.

Case Study 2:

Alice wants to sell her Libra for Bitcoin. Alice’s friend Bob has Bitcoin but wants Ether. Bob’s friend Chris has Ether but wants Libra. Chris and Alice don’t know each other.

They contact ZeU to create the smart contracts and all parties deposit equivalent amounts of cryptocurrency. ZeU creates the one-time smart contracts which preclude the tokens from being used.

The parties agree to the transaction, the smart contracts are executed, and the tokens are released.

OR

The parties do not agree to the transaction, the smart contracts fail, and the tokens are returned to their original owners.


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Consequences of this Technology on other ZeU Initiatives

There is a crypto exchange killer inside ZeU’s MulaMail Marketplace (from wallet to distributed exchange). Every MulaMail account becomes its own digital assets distributed exchange.

Third Party extension project code named “Hillary”

Hillary’s plugin, available from MulaMail digital wallet, will create an easy one-click/one-swipe user experience to swap any digital asset for any digital asset. Thus making MulaMail a distributed exchange without the lengthy friction of a traditional exchange.

Furthermore, the exchange will create more digital asset liquidity as it will enable trade between n-participants. Ex: Karen exchanges 0.5 BTC for 20 ETH (Ether). The 20 ETH belongs to Chris, who is trading his ETH for LTC (Litecoin). The LTC will come from Dave who wants BTC. This happens as a seamless experience.

This way, all existing trade orders could be exponential as they can now participate in multilateral trading, which may effectively cripple traditional exchanges.

Frank Dumas, CEO of ZeU Crypto Networks, commented “(…) this is by far the most significant development achieved by the ZeU team. We are proud of having delivered this milestone, which we initially expected to develop over several years. With this, the potential impact for blockchain developers is paramount, not the protocol they endorse. (…) It gives freedom back to developers. They no longer have to be attached to a particular protocol in the development of their distributed ledger applications. I think that it is even more disruptive for the trading of data or digital assets as it eliminates a number of intermediaries. We realize this may make us some enemies. (…)

ON BEHALF OF THE BOARD OF DIRECTORS

“Frank Dumas”

FRANK DUMAS

DIRECTOR & COO, ST-GEORGES ECO-MINING

PRESIDENT & CEO, ZEU CRYPTO NETWORKS.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

St-Georges Eco-Mining Corp. $SX.ca $SXOOF Independent Review of Phase One #Lithium in Clay R&D Completed $NNX.ca $OM.ca $ICM.ca

Posted by AGORACOM-JC at 3:11 PM on Wednesday, July 24th, 2019
Sx large
  • Received the Independent Review of its Phase I report titled “Bonnie Claire Metallurgical Evaluation and Process Development.”
  • Delivery of the current Independent Review Report constitutes the conclusion of the Stage 1 Benchmark and calls for the issuance of 2,000,000 of Iconic’s common shares to St-Georges.
  • Iconic has also met its other obligations derived from this agreement by participating in St-Georges’ private placement in January 2019 for CAD $100,000.

Montreal,  July 24, 2019 – St-Georges Eco-Mining Corp. (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased inform its shareholders that it has received the Independent Review of its Phase I report titled “Bonnie Claire Metallurgical Evaluation and Process Development.” The Company has communicated this information to its client, Iconic Minerals (TSX-V: ICM).

In December 2017, the Company entered into an agreement with Iconic Minerals ltd that called for St-Georges to develop an extraction process that would allow Iconic to economically exploit the lithium resources discovered at Iconic’s 100% owned Bonnie Claire lithium deposit. (For details, please refer to St-Georges’ Press Release dated December 7, 2017). The agreement has three delivery milestones. The delivery of the current Independent Review Report constitutes the conclusion of the Stage 1 Benchmark and calls for the issuance of 2,000,000 of Iconic’s common shares to St-Georges. Iconic has also met its other obligations derived from this agreement by participating in St-Georges’ private placement in January 2019 for CAD $100,000.

St-Georges’ Research & Development Vice-President, Enrico Di Cesare commented: “(…) The development team is looking forward to progressing the technology further (…) knowing that the process works and can be independently executed is very encouraging. We are currently able to leach between 99.97% and 100% of the lithium in solution (…) the only improvement possible at this stage is to reduce processing time and the size of the feedstock with improved concentration. significantly improve what was developed in Phase I, covered by this report. (…) We are designing the pilot plant to keep a maximum of flexibility to improve the initial steps of the process. (…) We are looking forward to the big challenge that putting a 25t/w pilot plant in place represents for us. (…) The reception we have had from the local communities approached is very positive. People understand the need to produce lithium at low costs, and they embrace our commitment to green technology. The government support we have received until now is beyond what we would have normally expected. (…) We are now at the stage to increase and formalize our relationships with higher-learning and public R&D entities. We are hopeful that it will allow for even more innovation down the road (…)”

Summary of the Report

The objective of the process development by St-Georges Eco-Mining ltd was to recover lithium from the Bonnie Claire deposit.

SGS Lakefield Laboratory performed an elemental analysis and crystalline analysis of the material that was received. The results indicated that the lithium was in a spodumene (LiAlSi2O6) crystal form, and no chlorides were present. This suggests that the lithium is not the residue of brines from a land-locked salt lake.

Recovery of lithium was tried with water, sulphuric acid, hydrochloric acid, and mixed acid leaching. All obtained poor results at room temperature and no pressure. Best results were at higher temperatures for sulphuric acid, indicating a high-pressure roasting was required for this material. This is standard for this mineral but not practical at these concentrations. Sulphuric acid with high temperature, pressure, and roasting at concentrations of 0.1% lithium or 0.2% lithium (after air classification) is not practical.

Nitric acid was tried for selective leaching with positive results. At low temperature and with no pressure, 100% of the lithium was put into solution while avoiding the leaching of metals and most of the other elements. Other leached materials were carbonates (1/2 of the present iron was found under carbonate form) and salts (Mg, Ca including sodium and lithium). With the expected mined volume of over 7 million tons annually for 20,000 tons of lithium hydroxide produced, this type of leaching strategy could help keep capital costs down by, amongst other things, allowing for the design of a low-cost leach tank.

Concentration methods were tested with early-stage results that call for further tweaking and calibration. The air classification trials were able to remove half of the gangue. The report delivered to Iconic contains a separate independent report in which these tests were independently performed and validated by Netzsch GmbH. The trials will be continued with a focus on optimizing de-agglomeration and on crystal form optimization. Flotation trials were not conclusive at this early stage. The selective leaching results allowed the Company to plan additional developments in Phase II. The use of resin for the purification of the lithium might be pursued on the resulting leached material and in a parallel extensive test with an electrolysis pilot plant to be set up to provide the industry with samples for market acceptance. The latter being a key to funding the project in the future.

Recovery of lithium was also tried with water, sulphuric acid, hydrochloric acid, and mixed acid leaching. All obtained poor results at room temperature and no pressure. Best results were at higher temperatures for sulphuric acid, indicating a high-pressure roasting was required for this material. This is standard for this mineral but not practical at these concentrations. Sulphuric acid with high temperature, pressure, and roasting at concentrations of 0.1% lithium or 0.2% lithium (after air classification) is not practical.

Testing Results

SGS Lakefield Laboratory was then approached for characterization and preliminary leaching trials to better determine the strategy for development and approach going forward, and to get a second opinion on the crystalline form of the lithium. An independent characterization report made by SGS Lakefield Laboratory is in Appendix A of the Phase I report delivered to Iconic.

Table 1: Crystalline Mineral Assemblage (SGS Lakefield)

Sample Major (>30%Wt) Moderate (10%-30%Wt) Minor (2%-10%Wt) Trace (<2%Wt)
Head Assay Bulk potassium-feldspar, plagioclase, quartz, analcime, calcite I/M, illite, mica, heulandite, spodumene *halite, *siderite, *magnetite, *chlorite
Clay Fraction I/M illite, (quartz), (potassium-feldspar) (heulandite) *chlorite

*tentative identification due to low concentrations, diffraction line overlap or poor crystallinity

*I/M – illite-montmorillonite mixture

Brackets indicate non-clay minerals present in the clay fraction.

The presence in clays of spodumene (the most common mineral form of lithium in hard rock lithium resources) may indicate that it has been collected over centuries in the dried lake by the erosion of lithium-bearing hard rock formations as fine clay-sized particles.

Table 2: XRD Crystal Structure (SGS Lakefield)

Mineral Head Assay (wt %)
Orthoclase 25.8
Albite 16.6
Quartz 12.2
Analcime 12.1
Calcite 10.7
Illite-Montmorillonite 5.3
Phlogopite 4.1
Spodumene 3.2
Illite 3.1
Heulandite 2.8
Halite 1.3
Siderite 1.2
Magnetite 1.1
Clinochlore 0.6
Total 100

Spodumene represents approximately 3.2% by weight, and typical crystal form is LiAlSi2O6. Lithium in this crystal form represents 3.7% by total weight. This correlates closely to the 0.1% lithium readings that have been measured during resource estimates confirming the crystalline form.

A chemical element distribution was also performed to try to predict options to create an economical and environmentally viable solution for the recovery of the resource.

Table 3: Chemical Element Distribution (SGS Lakefield)

Name Assay1 SQD2 Delta Status
Oxygen 40.3 47.9 -7.55 Both
Silicon 25.1 26.2 -1.08 Both
Aluminum 6.35 7.09 -1.55 Both
Calcium 5.08 4.44 0.64 Both
Potassium 4.23 4.27 -0.03 Both
Sodium 3.41 3.28 0.13 Both
Iron 2.24 2.13 0.11 Both
Carbon 1.41 -1.41 SQD
Magnesium 1.13 1.15 -0.02 Both
Chlorine 0.76 -0.76 SQD
Hydrogen 0.27 0.27 SQD
Fluorine 0.18 0.18 SQD
Lithium 0.11 0.12 0.01 Both
Phosphorus 0.03 0.03 XRF
Titanium 0.22 0.22 XRF
Manganese 0.09 0.09 SRF

1.Values measured by chemical assay.

2.Values calculated based on mineral/compound formulas and quantities identified by semi-quantitative XRD.

The usual form of lithium present in typical brines is easy to dissolve in water. The common forms of lithium associated with hard rock resource are spodumene LiAlSi2O6 and lepidolite K(Li,Al,Rb)2(Al,Si)4O10(F,OH)2 which require aggressive leaching with high temperature and roasting. As the economic recovery of the lithium would be severely hampered, a leaching trial was performed at ambient temperature with conventional leaching options. Initial tests have shown that high temperature and roasting would be necessary with conventional leaching methods.

Table 4: Summary of Leach Tests

Test   Lixiviant Solids Extractions (%)
Test Sample Temp Lixiviant Li Ca Mg
L-001 NV Clay Comp Amb Water 2 00
L-002 NV Clay Comp Amb H2SO4 11 15 8
L-003 NV Clay Comp Amb HCl 7 92 4
L-004 NV Clay Comp 80 H2SO4 15 14 9
L-005 NV Clay Comp 80 H2SO4 + Thiourea 40 16 40

Water Leach (L-001)

A lithium salt would normally be leached or dissolved in water. L-001 test demonstrates that only 2% of the total lithium was recovered in solution, and a total of 11% weight loss of the solids occurred. This indicates that only actual salts were dissolved in the water. A typical brine would have allowed most of the lithium and salts to be recovered in water which is noticeably not the case here. A water wash could reduce the impurities in the solution simplifying the total purification steps by reducing sodium, for example. Saturated salt water may help with concentrating lithium fines during froth flotation and may be achieved by water recirculation.

Sulphuric Acid Leach (L-002, L-004, L-005)

At ambient temperature, test L-002 leached 11% of the lithium. With the temperature at 80?C test L-004 with 15% of the lithium recovered provided the best results with sulphuric acid. This follows the logic of hard rock lithium minerals chemical recovering with high temperature pressurized leach after roasting with conventional methods. Purification and neutralization efforts are costly even with a 6% total lithium concentrate. At the concentrations being discussed, the chemical usage and sheer size of the process plant, it would doubtfully be economical.

Mixed acid was also tried with elements added to the sulphuric acid in test L-005. At 80?C, this did improve the recovery of lithium to 40% but also increased other elements not targeted to be leached. Even with mixed acid, the testing trend indicated high-temperature pressure vessels would be needed. This would be very costly with low concentrations of lithium in addition to leaching many impurities that would complicate the purification steps. The main advantage with sulphuric acid is that calcium is precipitated as gypsum, thus eliminating one of the impurities.

Hydrochloric Acid Leach (L-003)

Test L-003 was only a little better than water leach (L-001) with 7% of the total lithium recovered and almost all the calcium. In this case, it is expected that increasing the temperature would improve results, but more impurities would probably be leached at the same time. Mg and Ca leached at the highest rate with HCl (Ca remains in solution with HCl).

Magnesium (Mg) and Calcium (Ca) cause problems for the recovery of lithium with resins and organics. Conventional resins with brines typically have a ratio of 6 to 1 for Magnesium to Lithium before efficiency is severely diminished. This has led to the development of new resins to operate in less favorable ratios. In the case of using acids, the chemical costs can become prohibitive even if a resin for purification is found with unfavorable ratios.

St-Georges’ Process: Selective Leaching with Nitric Acid

Leaching with a passivating acid normally used to clean steel and passivate the welds of stainless steel was performed in the hope of selectively removing the magnesium (Mg) and all the salt metals like sodium (Na), calcium (Ca), lithium (Li) and magnesium (Mg).

The initial results with a 4-hour leach showed that all the salt metals and carbonate formations leached easily. This follows the logic of cleaning acid and leaves most of the other elements behind, such as silica (Si), alumina (Ai), potassium (K).

Multiple 1-hour leach tests confirmed the leaching of 100% of the lithium leaving behind most of the leachable elements from other acids such as potassium (K). The only loss of lithium that occurred during some of these tests was due to the water in the filter with the solids and represented less than 0.03% of the total lithium value. It also corresponds directly to the water retained with this type of fine material. Additional trials are being performed with reduced time of contact and temperature to optimize the lithium-bearing fines leaching.

The lithium in the super fines leached completely in each test performed with nitric acid. The trials to selectively optimize leaching the lithium with less calcium and magnesium are expected to be performed in the third quarter of 2019. It is expected that calcium can be reduced partially by filtering the coarser calcium formation as per SGS results and partially with less contact time with the acid. The same for magnesium. New samples will be treated once received.

Considering the results obtained, St-Georges is working on strategic partnerships for new organics mediums and resins that can work with nitric acid to selectively collect the lithium, as well as for electrolysis with nitric acid mediums. The Company also started to work on optimizing a new technology related to filter presses to reduce the facility size and environmental footprint, and to decrease chemicals usage and waste disposal. The new filter press design will be completed and available for viewing within two months. It is too early to know if this development initiative will result in intellectual property that can be patented.

Yves Caron P.Geo. (OGQ #548) a Qualified Person under the National Instrument 43-101 has reviewed and approved the technical content of the current press release

ON BEHALF OF THE BOARD OF DIRECTORS

“Vilhjalmur Thor Vilhjalmson”

VILHJALMUR THOR VILHJALMSON, PRESIDENT

About St-Georges

St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry.

The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF, and on the Frankfurt Stock Exchange under the symbol 85G1.

Cautionary Statements Regarding Forward-Looking Information

Certain statements included herein may constitute “forward-looking statements.” All statements included in this press release that address future events, conditions, or results, including in connection with the prefeasibility study, its financing, job creation, the investments to complete the project and the potential performance, production, and environmental footprint of the ferrosilicon plant, are forward-looking statements. These forward-looking statements can be identified by the use of words such as “may”, “must”, “plan”, “believe”, “expect”, “estimate”, “think”, “continue”, “should”, “will”, “could”, “intend”, “anticipate”, or “future”, or the negative forms thereof or similar variations. These forward-looking statements are based on certain assumptions and analyses made by management in light of their experiences and their perception of historical trends, current conditions, and expected future developments, as well as other factors they believe are appropriate in the circumstances. These statements are subject to risks, uncertainties, and assumptions, including those mentioned in the Corporation’s continuous disclosure documents, which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and uncertainties are outside the control of the Corporation and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In making such forward-looking statements, management has relied upon a number of material factors and assumptions, on the basis of currently available information, for which there is no insurance that such information will prove accurate. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. The Corporation is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither the CSE nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.